Sri Lankan rupee ends firmer on remittances

COLOMBO, Dec 5 (Reuters) - The Sri Lankan rupee closed stronger on Tuesday led by selling of the dollar by exporters and year-end inflows of the greenback in the form of remittances, dealers said.

The spot rupee ended at 153.30/40 per dollar, compared with Monday’s close of 153.55/60.

“Demand (for the dollar) is not there as seasonal imports have finished ... oil demand is also not there,” said a currency dealer, adding that the dollar demand has slightly waned, lending support to the rupee.

“The year-end inward remittances are helping the rupee to strengthen.”

The rupee has lost 2.5 percent so far this year.

The market has been waiting for more clarity over a foreign exchange management act introduced by the government last month.